Laws limited even the largest institutions to individual states, and supervision was generally local.

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Tax havens are usually characterized by extremely low tax rates, strong banking secrecy laws and flexible regulations in terms of licensing, incorporation and supervision.

FORBES

Bankruptcy laws specifically are designed to give companies an opportunity - under court supervision - to reduce costs and streamline operations.

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Consumer advocates and some industry analysts contend that the agency long courted big banks to choose the OCC as their regulator by offering a lax approach to supervision and taking the side of banks in striking down state consumer-protection laws.

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